Australia, like other nations, has worked hard to address the economic and health impacts of the COVID-19 pandemic.
The Australian Government acted swiftly to cushion the economic impact of COVID-19. It provided A$291 billion in emergency support to Australian businesses, workers and the broader community during 2020–21. Strong public health measures minimised the spread of the virus.
As a result, Australia was less hard hit economically than other countries and has recovered strongly. The country’s resources, energy and agriculture exports continued to grow during 2020. Our economy is also adapting to changes in global trade as we look to new markets and sectors to boost our growth.
While Australia is not yet out of the pandemic, we are better placed than most other countries to meet the economic challenges that lie ahead.
A stable destination for foreign investment
Australia continues to offer a safe, stable and welcoming environment for international investors.
Australia’s resilient economic growth, strong institutions and open markets draw high levels of investment. Australia attracted A$1 trillion in foreign direct investment in 2020. The European Union, the UK and North America contribute almost half of all FDI in Australia, with solid capital inflows from Japan, China, Hong Kong, Korea and ASEAN member nations.
The country’s economic resilience is testimony to sound management, longstanding trade and investment ties with major markets, and a global reputation as a reliable exporter of natural resources and agricultural commodities. A mature financial services sector with assets of around A$10 trillion provides a significant source of local capital.
Access the Why Australia Benchmark Report 2021 for five key reasons why Australia is a great place to invest and do business.
Find out more about investing in Australia or contact an Austrade Investment Specialist in your region.
Australia seeks exceptional individuals and top-tier businesses
Australia is seeking the world’s best and brightest talent to relocate here.
The Global Business and Talent Attraction Taskforce was established to attract proven enterprises and entrepreneurs along with their ideas, networks and capital.
If you’re heading up a business, or are an exceptional individual, you may qualify for the Global Talent visa. This gives you and your immediate family the certainty of permanent residency.
Businesses supported by the Taskforce can also apply for a Temporary Activity visa to fast-track their move to Australia. This will help get staff here quickly, giving you an initial temporary workforce, including essential corporate staff, for 18 months.
Contact the Global Business and Talent Attraction Taskforce for information on the Global Talent Visa Program and other visa pathways.
Advice for international customers
Thanks to high rates of technology adoption, many Australian businesses are operating as well as conditions allow.
Austrade encourages buyers that have an existing commercial relationship with an Australian supplier to contact suppliers directly to confirm supply and renew orders.
The Australian Government has launched the International Freight Assistance Mechanism to assist Australian agricultural and fisheries businesses to export their produce to key markets in Asia, the Middle East and the US. This will help ensure high-value, in-demand Australian exports flow back to key destinations as markets recover and reopen. Return flights will bring back medical supplies, medicines and equipment.
Where Australia is temporarily unable to offer a good or service, Austrade is supporting exporters and customers to maintain links so that business can bounce back as the COVID-19 pandemic recedes.
Austrade supports investors and customers worldwide. Our global network of more than 80 offices can provide the latest information and advice on investing in and doing business with Australia.
Please contact the Austrade representative in your region for assistance.